Egypt: Elsewedy Electric posts $187.1mln consolidated profits in 2022

Elsewedy Electric Company logged consolidated net profits after tax worth EGP 5.75 billion in 2022, an annual leap from EGP 3.86 billion, including non-controlling equity.

The EGX-listed firm generated EGP 92.16 billion in revenue during the January-December 2022 period, compared to EGP 60.54 billion in 2021, according to the income statements.

Basic and diluted earnings per share (EPS) stood at EGP 2.28 in the 12-month period that ended on 31 December 2022, up from EGP 1.49 a year earlier.

Meanwhile, the total consolidated assets hit EGP 113.95 billion last year, versus EGP 68.47 billion in 2021.